Under Armour made headlines on Wednesday with the announcement of CEO Stephanie Linnartz stepping down from her role after just over a year, and the return of founder Kevin Plank as the brand’s chief executive. Linnartz, who took over as CEO in February 2023 after a long tenure at Marriott International, will be succeeded by Plank effective April 1.

Plank, the founder of Under Armour, had previously stepped down as CEO about four years ago but remained as the company’s chairman. Linnartz will continue to work with the company as an advisor until the end of April. In addition to Plank’s return, Mohamed El-Erian, chief economic advisor at Allianz, will take over as nonexecutive board chair.

Linnartz, known for her experience in the hospitality business, was chosen to lead Under Armour due to her expertise in digital sales and her role in developing Marriott’s loyalty program, Bonvoy. During her time as CEO, she launched UA Rewards and had plans to expand the brand’s women’s assortment to attract more customers.

Both Plank and Linnartz expressed gratitude and optimism for the company’s future. Plank thanked Linnartz for her contributions, citing her strengthening of the leadership team and her prior experience leading major brands as instrumental in shaping the company’s consumer strategy. Linnartz, in turn, expressed her pride in the progress made during her tenure and her belief in Under Armour’s potential for limitless growth.

Under Armour’s decision to bring back its founder as CEO and appoint El-Erian as board chair reflects the company’s strategic shift and its commitment to future growth and success.